Wednesday, Dec 02, 2009

Dummy Spitting Backlash Imminent

Guardian: Royal Bank of Scotland bonus pool now under government control

"RBS has revealed that it has reluctantly surrendered the right to decide how any bonuses should be paid for the current financial year, warning that it could harm the bank's ability to recruit and retain (greedy and ruthless) staff." (bracketed comments added by C&C!)
In a circular to shareholders, RBS said it has granted the Treasury the right to "consent to the quantum and shape of the 2009 bonus pool", as part of the terms of joining the government's asset protection scheme (APS).

Posted by cat and canary @ 12:54 PM (750 views)
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3 Comments

1. cat and canary said...

.. or will it mean...

Sir Peter Viggers: We have control over your bonus pool now Banker!
Banker: What?? i'm leaving!
Sir Peter Viggers: Don't worry, you can have it, but only if you buy me this luxury duck island please
Sir Peter Viggers: ...its important for my parlimentary duties.
Banker: No problem, here's a roll of wonga. Loads-a-money

Wednesday, December 2, 2009 01:00PM Report Comment
 

2. Eternal Sceptic said...

Pretty good business to be in-get fantastic rewards for incompetance. Can only be beaten by politicians snuffling in the trough.

Wednesday, December 2, 2009 04:24PM Report Comment
 

3. This comment has been removed as it was found to be in breach of our Blog Policies.

 

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